New research indicates that paying a lot of money for college is bullshit.

Research presented here by researchers from Wabash College — and based on national data sets — finds that there may be a minimal relationship between what colleges spend on education and the quality of the education students receive. Further, the research suggests that colleges that spend a fraction of what others do, and operate with much higher student-faculty ratios and greater use of part-time faculty members, may be succeeding educationally as well as their better-financed (and more prestigious) counterparts.

Expensive colleges join expensive investment advice, expensive watches, and expensive exercise equipment on the list of bullshit things whose primary benefit to mankind is the amusement provided by laughing at the tortured justifications that people concoct for spending a great deal of unnecessary money upon them.